Natural Disaster lowers interest rates

Monday, January 11, 2010 , Posted by Johnny Fuery at 2:03 AM

Originally Published 2005-09-03 04:19:53

Mortgage rates fall, likely to stay low

"With Katrina driving up already-high oil prices and threatening to slow the economic recovery, analysts now expect Greenspan to suspend or slow efforts to raise interest rates. In response, long-term interest rates, including mortgage rates, have dropped. Freddie Mac, the government-sponsored company that purchases mortgages, said yesterday that the fixed rate on a 30-year mortgage dipped to 5.71 percent, from 5.77 percent a week ago. That is the third consecutive weekly drop, down from 5.89 on Aug. 12."

Currently have 1 comments:

  1. Anonymous says:

    Johnny,

    This article was originally posted back in 2005 and it is still true that we are seeing some of the lowest mortgage rates available in our life time. It is important to take advantage of these rates while they remain low.

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